Boise Cascade (NYSE:BCC) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Boise Cascade (NYSE:BCC) released its quarterly earnings data on Monday. The construction company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.16, Briefing.com reports. Boise Cascade had a net margin of 7.08% and a return on equity of 22.00%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $3.67 earnings per share. Boise Cascade’s revenue was down 1.0% compared to the same quarter last year.

Boise Cascade Trading Down 4.0 %

NYSE:BCC opened at $123.78 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 3.24 and a debt-to-equity ratio of 0.21. Boise Cascade has a 1-year low of $87.32 and a 1-year high of $154.67. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 10.06 and a beta of 1.50. The stock has a fifty day simple moving average of $128.11 and a 200 day simple moving average of $134.71.

Boise Cascade Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Boise Cascade’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 3rd. Boise Cascade’s dividend payout ratio (DPR) is 6.83%.

Insiders Place Their Bets

In related news, SVP Jill Twedt sold 1,852 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the transaction, the senior vice president now directly owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Jill Twedt sold 1,852 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $135.00, for a total value of $250,020.00. Following the sale, the senior vice president now owns 37,437 shares of the company’s stock, valued at approximately $5,053,995. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey Robert Strom sold 2,500 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $135.00, for a total value of $337,500.00. Following the sale, the executive vice president now owns 43,353 shares of the company’s stock, valued at approximately $5,852,655. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

BCC has been the subject of several recent analyst reports. Truist Financial cut their price objective on shares of Boise Cascade from $175.00 to $159.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. The Goldman Sachs Group dropped their price target on shares of Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com raised shares of Boise Cascade from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $126.00.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.